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How This Entrepreneur Is Driving Ghana’s Global Expansion Through Its People
Forbes· 2025-09-24 20:36
Core Insights - RNAQ Food Bank has served over 17,000 people since its opening on August 1, 2025, across five locations in Ghana, providing free meals daily [11] - Accra, the capital of Ghana, is experiencing rapid growth, with a population of approximately 2.7 million and a projected annual population increase of 2%, making it one of Africa's fastest-rising self-sufficient hubs [2] - Richard Nii Armah Quaye, founder of RNAQ Holdings, has significantly impacted Ghana's economy through investments in small to mid-sized enterprises, disbursing over 7.5 billion Ghana Cedis (GHC) in loans to over 300,000 businesses [4] Investment and Economic Development - Quaye's credit lending company, Bills Microcredit, is the largest non-banking financial institution in Ghana, managing over 70% of lending funds in the market [4] - Quick Angels Limited, launched in 2019, is Ghana's first institutionalized angel investor company, focusing on providing equity funding to young businesses and entrepreneurs [6] - Investments from Quick Angels span various sectors, including culinary, healthcare, and creative industries, contributing to job creation and economic growth [7][9] Cultural and Social Impact - Trade is central to Ghana's cultural identity, with 80% of citizens engaged in trading activities, which are vital for the economy and community wealth [5] - Quaye emphasizes the importance of investing in individuals and businesses to foster national growth and change the narrative around African entrepreneurship [10] - The RNAQ Food Banks initiative is seen as a means to provide dignity and stability, rather than mere charity, reflecting Quaye's commitment to community welfare [11][12] Legacy and Future Vision - Quaye's philosophy centers on building Ghana from within and ensuring that success impacts the lives of many [12] - The focus is on creating a ripple effect of empowered individuals who can shape industries and contribute to their communities [13] - Quaye aims to replicate his success by mentoring others, fostering a culture of entrepreneurship and self-sufficiency in Ghana [12]